All Forum Posts by: Phillip Syrios

With that much saved up it seems like Buy and Hold would be a great place to start. Define your goals and what you want to accomplish and why, then research the different real estate strategies and you will see which one will get you to where you want to be the fastest.

Thanks a neighborhood called Ruskin, we have a few rentals there but we don't buy there anymore. Its a pretty rough area and most people really don't like it. I personally would not get involved in a full rehab in that area, I wouldn't think I could get my money back out.

There are definitely some investors there but we have moved out of the market for the most part.

@Account Closed 

6 weeks sounds about right from my experience, if something goes wrong it can take a bit longer. Its not a long time in the scheme of things but not receiving rent that whole time can get expensive fast.

I only say it seems long relative to other markets I've worked in. Kansas is closer to 3 or 4 weeks and Oregon more like 2-3 as well as Texas. I have heard of other states taking a lot longer but don't have any experience in those markets.

Same thing as before when I order one they send me an email a few days later saying they don't have one and cancel the order.

 I appreciate the lead but when I order a cover they send me an email a few days later saying they don't have one and cancel the order.

I am trying to get a furnace cover for a product that is no longer manufactured. I want to get this one here http://www.repairclinic.com/PartDetail/Access-Panel/2339574

Its not the exact piece for the furnace, but every online store I find it at I get an email from them saying the order is cancelled because they don't have one.

This is the actual piece that fits the furnace I have but it doesn't have a picture and I think it would be harder to find.

Vest access panel (champagne) S1-07319862031 http://www.repairclinic.com/PartDetail/Vest-Access-Panel-Champagne/2339573

I have not managed anywhere but Kansas City so I don't know how to compare it to other markets very well. If I would guess it is somewhere in the middle, the only thing I know about other markets compared to Kansas City is on the speed of evictions. They can take awhile here, much longer than a market like Dallas,  but its not so hard you can't manage it, nothing like New Jersey.

As far as quality of residents, it all depends on location, how well you screen and how well you manage.

Its rare that you can get paid for an education :) Good job and hopefully it will pay dividends down the road.

You can almost always evict someone simply for not paying rent, you don't need anything else usually. In MO the only way to get someone out faster is if it is an unsafe situation for someone else, usually a roommate evicting another roommate.

Letting the legal system work is usually the only way to deal with it, but you can sometimes try to offer the resident something to give back possession for some sort of compensation (dropped eviction charges, deposit refund, cash, moving truck etc...) This can often be the correct business decision even if it favors someone who already hurt you financially.

Different states have different laws making the process always take a different amount of time. In states where it takes awhile to evict it is extremely important to screen well and get a quality person who cares about their background into the property. That way they will likely keep the property up and pay, but if they don't they will be reasonable with a plan to move them out to prevent negative history on their background while you can get possession of the property back quickly to re-rent it.

We have a section 8 prospect who only qualifies for our company with last months rent paid up front in addition to their full month security deposit. Im just curious if anyone knows if section 8 allows this (getting an answer from them is not so easy.)

Also if I remember correctly in Missouri you can only have a maxims of 1 months rent on file as deposit meaning the last months rent could not be considered a deposit instead of their last month of rent. I feel this is probably not allowed by section 8 as they are the ones paying rent and do not want any rent paid outside of what they allow.